Selecting Cash under Spend Money

1

I have created all my accounts via journal entries and have a cash balance showing in my BS under cash and cash equivalents. I have just received my first invoice and made my first Purchase Invoice in the system and clicked spend money. I am however unable to select the cash account and cash equivalents account and do not get any options.

Can you please let me know where I am going wrong.

Thanks

2

You have created what accounts via Journal Entries. Journals are only used for making adjustments - not for making primary entries.

With regards to the Spend Money, you select the Cash or Bank account from the drop down, not the Cash and Cash Equivalents account itself.

The Cash or Bank accounts listed would have been set up under the Cash Accounts tab,

3

Oh dear. I did all my primary expense entries via journals.

I have now created my cash account. However, I have started the company via a personal loan how do I transfer this loan to my cash account and at the same time show the loan on my BS.

4
  1. Under Settings - Chart of Accounts create a new BS Liability account called “XXX Loan”.
  2. Then when you make the deposit - Receive Money, select the Cash/Bank and the Account = “XXX Loan”
5

Thank You.

I will now delete and redo all my entries via the expense tab. :slight_smile:

6

There isn’t an Expense tab, do you mean Purchase Invoices
If yes, then you also need to utilise the Suppliers tab

7

No, I mean spend money from the cash account tab. This pertains to all expenses done to setup the business.

8

Okay

9

One last thing, how do I view my entries after I enter it via the spend money tab under cash accounts. Just in case I want to make an amendment in the description.

10

Click on the Cash Accounts tab, click on the blue balance figure (RHS) and the transactions will be listed with the most recent at the top.

11

@Justin, you will obviously benefit from reading the Guides:

Guides

12

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